UBS AG Reaffirms “Sell” Rating for Pier 1 Imports, Inc. (PIR)
UBS AG reaffirmed their sell rating on shares of Pier 1 Imports, Inc. (NYSE:PIR) in a research note published on Saturday morning, www.flashratings.com reports. They currently have a $3.50 price objective on the specialty retailer’s stock, down from their previous price objective of $4.00.
A number of other equities analysts have also weighed in on PIR. Credit Suisse Group set a $4.00 price objective on Pier 1 Imports and gave the company an underperform rating in a research report on Friday, July 7th. Zacks Investment Research upgraded Pier 1 Imports from a sell rating to a hold rating in a research note on Wednesday, August 30th. BidaskClub lowered Pier 1 Imports from a hold rating to a sell rating in a report on Tuesday, July 11th. Deutsche Bank AG reduced their target price on Pier 1 Imports from $5.00 to $4.00 and set a sell rating for the company in a report on Friday, June 30th. Finally, Loop Capital restated a buy rating and issued a $10.00 price target (down previously from $12.00) on shares of Pier 1 Imports in a research note on Thursday, June 29th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. Pier 1 Imports currently has an average rating of Hold and a consensus price target of $5.09.
Pier 1 Imports (NYSE PIR) opened at 4.30 on Friday. Pier 1 Imports has a 52 week low of $3.96 and a 52 week high of $9.68. The company has a market cap of $348.64 million, a P/E ratio of 10.72 and a beta of 1.69. The firm has a 50-day moving average price of $4.31 and a 200-day moving average price of $5.38.
Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $407.61 million during the quarter, compared to analysts’ expectations of $406.32 million. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. Equities research analysts anticipate that Pier 1 Imports will post $0.41 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 6.51%. Pier 1 Imports’s dividend payout ratio is currently 77.78%.
Several institutional investors have recently modified their holdings of PIR. Vanguard Group Inc. grew its position in shares of Pier 1 Imports by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,264,810 shares of the specialty retailer’s stock valued at $42,894,000 after acquiring an additional 959,886 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Pier 1 Imports by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,149,503 shares of the specialty retailer’s stock worth $37,105,000 after purchasing an additional 169,640 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pier 1 Imports by 32.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,132,128 shares of the specialty retailer’s stock worth $36,745,000 after purchasing an additional 1,254,498 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Pier 1 Imports by 4.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,039,867 shares of the specialty retailer’s stock worth $10,588,000 after purchasing an additional 89,989 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Pier 1 Imports by 4.9% in the 2nd quarter. State Street Corp now owns 1,748,341 shares of the specialty retailer’s stock worth $9,074,000 after purchasing an additional 81,907 shares in the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.
About Pier 1 Imports
Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.
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